Citi swallows its qualms on risk retention as banks tool up for UKAR sales

Citigroup has won a prestigious mandate to help Pimco buy £4.8bn of mortgages from the British government’s bad bank, UK Asset Resolution. It was victorious partly because it was able to get comfortable with holding the ‘risk retention’ in the deal, something only Barclays and Goldman Sachs have done so far. With UKAR gearing up to sell its last £8bn of assets and shut up shop, other banks may need to follow suit. Owen Sanderson reports.

  • By Owen Sanderson
  • 04 Apr 2019
UK Asset Resolution’s asset sales have been among the biggest trades in the market for securitization businesses over the last five years. The bad bank set up to own assets held by the collapsed UK banks Northern Rock and Bradford & Bingley has gradually got rid of them, ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 4,486 16 13.62
2 Citi 4,347 16 13.20
3 Lloyds Bank 3,158 6 9.59
4 Morgan Stanley 3,066 8 9.31
5 Bank of America Merrill Lynch (BAML) 2,771 10 8.42

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 59,877.90 198 10.54%
2 JPMorgan 52,821.03 158 9.30%
3 Wells Fargo Securities 42,153.78 123 7.42%
4 Bank of America Merrill Lynch 41,657.82 137 7.33%
5 Credit Suisse 38,698.59 123 6.81%